Dycom Industries (NYSE:DY) Posts Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Dycom Industries (NYSE:DY) issued its earnings results on Tuesday. The construction company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.26, Briefing.com reports. Dycom Industries had a net margin of 1.59% and a return on equity of 5.95%. The firm had revenue of $854.00 million for the quarter, compared to analysts’ expectations of $815.89 million. During the same quarter last year, the business earned $1.06 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis.

NYSE DY traded down $0.94 during trading hours on Thursday, hitting $98.97. The company’s stock had a trading volume of 858,474 shares, compared to its average volume of 365,079. Dycom Industries has a 12 month low of $61.50 and a 12 month high of $105.28. The company’s 50 day simple moving average is $77.54 and its two-hundred day simple moving average is $75.73. The company has a market cap of $2.99 billion, a P/E ratio of 64.27 and a beta of 1.59. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.30 and a quick ratio of 3.15.

Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Dycom Industries from a “hold” rating to a “sell” rating and set a $74.00 price target on the stock. in a report on Wednesday, August 4th. B. Riley lifted their price target on shares of Dycom Industries from $86.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. Craig Hallum lifted their price target on shares of Dycom Industries from $110.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday. KeyCorp lifted their price target on shares of Dycom Industries from $104.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, DA Davidson lifted their price target on shares of Dycom Industries from $85.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dycom Industries has a consensus rating of “Buy” and a consensus price target of $109.17.

A hedge fund recently bought a new stake in Dycom Industries stock. Janus Henderson Group PLC acquired a new position in Dycom Industries, Inc. (NYSE:DY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,217 shares of the construction company’s stock, valued at approximately $229,000. 92.20% of the stock is owned by institutional investors and hedge funds.

About Dycom Industries

Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.

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Earnings History for Dycom Industries (NYSE:DY)

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